Contagion Affects Europe
Deepening European crisis.
by Stephen Lendman
Europe keeps sinking deeper into financial crisis. Eurozone straightjacket rules force 17 dissimilar countries to live by one size fits all diktats. Flawed planning preordained eventual disaster.
Monthly more systemic cracks emerge. Money creation alone prevents collapse. That game only works for so long.
An unstoppable slow motion train wreck promises to be ugly on impact. Too much damage was done to undo it. When it's coming who can know. Only Cassandra was good at forecasting. Her specialty, however, wasn't calling economic peaks and troughs.
Greece is most troubled. Conditions there go from bad to worse. Insolvency approaches in weeks without more cash. The more it gets, the greater amounts needed.
The Eurozone experiment is in crisis. Bailouts and fixes don't work. Grexit is inevitable. Economist Nouriel Roubini says leaving in an orderly fashion buys time but nothing else.